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Strategic Cost Management
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A. Background
The increased challenges of today’s economic environment with decreasing reimbursement, escalating cost structures, and reduced reliance on investment capital, places increased reliance on efficient operations and Strategic Cost Management.
Strategic Cost Management is a management perspective that focuses an organization on achieving the lowest possible cost consistent with the organization’s quality standards and maintenance at that level to achieve ongoing financial goals. Successful cost management is an ongoing approach to managing an organization’s resources verses traditional project-oriented “quick – fix” approaches or tactical cost management.
Synergy Consulting Associates (SCA) provides Strategic Cost Management and operational improvement services for materials management, pharmacy, clinical lab, and surgery. Our approach actively engages physicians and clinicians to ensure solutions are practical and implementable. Innovative service methodologies are used to help organizations achieve rapid change and improvements, while establishing sustainable processes for the future. On average client organizations have been able to achieve 5-12% sustainable reductions in non-salary operating expenses. Expected savings vary, but our experience shows with management involvement and commitment, millions of dollars in savings can be found and implemented. In addition, all our fees are guaranteed.
Some key differentiating factors of our approach include:
SCA consultants have worked with numerous hospitals, large IDNs, multi-hospital systems, and academic medical centers to realize millions of dollars of savings in non-salary operating expenses in areas, such as Materials Management, Pharmacy, Surgery, and Cath Labs, Clinical Labs, Purchased Services, etc. Some clients include: Yale New Haven Health System, Boston Medical Center, SCM Alliance, St. Joseph Medical Center Towson, St. Joseph Hospital Marshfield, Kaleida Health System, Butler Memorial Hospital, High Point Regional Medical Center and Skaggs Community Health Center.
The increased challenges of today’s economic environment with decreasing reimbursement, escalating cost structures, and reduced reliance on investment capital, places increased reliance on efficient operations and Strategic Cost Management.
Strategic Cost Management is a management perspective that focuses an organization on achieving the lowest possible cost consistent with the organization’s quality standards and maintenance at that level to achieve ongoing financial goals. Successful cost management is an ongoing approach to managing an organization’s resources verses traditional project-oriented “quick – fix” approaches or tactical cost management.
Synergy Consulting Associates (SCA) provides Strategic Cost Management and operational improvement services for materials management, pharmacy, clinical lab, and surgery. Our approach actively engages physicians and clinicians to ensure solutions are practical and implementable. Innovative service methodologies are used to help organizations achieve rapid change and improvements, while establishing sustainable processes for the future. On average client organizations have been able to achieve 5-12% sustainable reductions in non-salary operating expenses. Expected savings vary, but our experience shows with management involvement and commitment, millions of dollars in savings can be found and implemented. In addition, all our fees are guaranteed.
Some key differentiating factors of our approach include:
- Consultants that have worked in administrative, clinical, and management positions
- Actively engage clinicians and physicians in strategic cost management initiatives
- Realistic and implementable solutions
- Unique methodologies to achieve rapid change and improvements, while establishing sustainable processes for the future
- Management tools and training to transfer knowledge and best practices to your staff
- Performance Guarantee – we guarantee our savings will meet or exceed your service investment
SCA consultants have worked with numerous hospitals, large IDNs, multi-hospital systems, and academic medical centers to realize millions of dollars of savings in non-salary operating expenses in areas, such as Materials Management, Pharmacy, Surgery, and Cath Labs, Clinical Labs, Purchased Services, etc. Some clients include: Yale New Haven Health System, Boston Medical Center, SCM Alliance, St. Joseph Medical Center Towson, St. Joseph Hospital Marshfield, Kaleida Health System, Butler Memorial Hospital, High Point Regional Medical Center and Skaggs Community Health Center.